Clinical Oncology Next Generation Sequencing Market

The clinical oncology next generation sequencing market consists of sales of devices and equipment used in clinical oncology next generation sequencing and related services by entities (organizations, sole traders and partnerships) that manufacture clinical oncology next generation sequencing equipment. Next generation sequencing is a process used to determine the sequence of nucleotides in a section of DNA and is used for oncology research. Only goods and services traded between entities or sold to end consumers are included. The global clinical oncology next generation sequencing market is expected to decline from $447.28 billion in 2019 to $437.55 billion in 2020 at a compound annual growth rate (CAGR) of -2.18%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $660.87 billion in 2023 at a CAGR of 14.74%.